Asian stock markets settled mixed on Monday, following Wall Street's declines and the G20's decision to drop a pledge to avoid trade protectionism, while the Federal Reserve's less hawkish-than-expected comments continued to drag the dollar lower.

Japan's benchmark index, Nikkei 225 fell 68.55 points or 0.35 percent to settle at 19,521.59. Singapore's Straits Times lost 3.68 points or 0.12 percent to end at 3,165.70. South Korea's KOSPI lost 7.57 points or 0.35 percent to end at 2,157.01.

On the other hand, China's benchmark index, Shanghai Composite gained 13.36 points or 0.41 percent to close at 3,250.81. Hong Kong's Hang Seng went up 192.06 points or 0.79 percent to end at 24,501.99. Taiwan's TAIEX gained 4.28 points or 0.04 percent to end at 9,912.97.